In the early 1800's William Procter (a candle maker) and James Gamble (a soap maker) married sisters. Their father-in-law recognized they were competing for the same raw material and suggested they combine forces. In 1837, they formed a new company called Procter & Gamble. Today that company is the largest consumer goods company in the world.
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What if P&G comes to Steemit?
How much could they invest?
This article says:
Proctor & Gamble's worldwide advertising budget was $7.1 billion in 2017.
[They] ... cut digital advertising spend by $200 million last year based on viewership data provided by tech and media companies that showed its ads were not reaching its target audience effectively.
Coulda, Shoulda, Woulda
Could they reach their target market more easily here on Steemit? Maybe...
Should they be on Steemit? Probably...
Will they be on Steemit? Absolutely. IMHO it's not a question of if, but when...
Just the other day @glenalbrethsen and I were discussing the future of Steemit and the blockchain.
- I mentioned the 'big boys' coming to the platform.
- That seed of an idea has grown into this post...
I discovered the Internet in '95 and became a webmaster.
Actually made a living from it for about 5 years.
- Speaking from experience, what I'm seeing here on Steemit, is the exact same thing I saw happen in the early days of the Internet. A bunch of people creating content to the best of their ability and trying to get noticed. A lot created content simply because they could. A lot created content because there was a possibility of making some money from it. It was tough to get eyeballs, so there were several alliances built to help promote each other. If I could help you be a bit more successful, you could help me be a bit more successful. If someone became successful enough, they could charge people to advertise on their web site. Sometimes it drove a lot of traffic to your site, so was a good investment. Other times you received little traffic and it was a bad investment. It could be pretty frustrating at times, because you would be pouring your soul into your content and maybe get a few views and someone else put up a stupid dancing gopher and it went viral. Sometimes it just wasn't fair. That made some people quit trying and for others it made them try that much harder. Most that had the perseverance to keep on keeping on could eventually create a following. Heck, I was getting over a million unique visitors to my content a year! And I'm just me, a guy who didn't quit... Some people hand edited lists of things and they would become pretty popular. Then someone would notice how popular the list was, so they automated the lists and became the most up to date lists and thus the goto list. Some people figured out how to spam the automated lists, making them pretty much worthless, so then the hand edited list would become popular again. Is it sounding a bit like Steemit to you? It should, because it is exactly history repeating itself.
- I remember getting really mad and very loudly voicing my opinion to the computer screen when I first ran across someone actually trying to charge me for information they had put onto the Internet. Don't you know the Internet makes information free!?!?!?! Don't you know someone else will put that information up for free?!?!? By golly, I told them a thing or two. Did they listen to me? nope... 😒
- Then the "big boys" started throwing huge sums of money at the Internet. Some amazing companies were built. Amazing venture capitalists were that stupid! They tried business plans that, of course in hind sight, obviously could not work. Who remembers million dollar sock puppet Superbowl ads for a dog food company that hadn't realized they could not compete because of shipping costs? But even though a large percentage of those companies went bankrupt, does not mean they did not continue to influence the Internet. Some people made huge profits off the building of those companies. They later had the convenience to not just throw mud on the wall to see what stuck, they could actually thoroughly study out an Internet idea and throw money at it if it actually had a chance to succeed.
- I remember getting really mad and very loudly voicing my opinion to the computer screen when I first ran across someone actually trying to charge me for information they had put onto the Internet. Don't you know the Internet makes information free!?!?!?! Don't you know someone else will put that information up for free?!?!? By golly, I told them a thing or two. Did they listen to me? nope... 😒
- When the big boys showed up on the Internet, it radically changed the landscape for those of us who just wanted to create some content and maybe make some money from it.
- That is what will happen here when "they" show up. Within just a few months of a big boy company dipping their big toe in Steemit to test the water, the landscape here will be radically and forever changed. You will not recognize it once a few of the big boys start competing for our eyeballs.
- When it happens, I only have one bit of advice.
Buckle up cupcake and enjoy the ride! - Oh what the heck, I'll give you a second piece of advice...
Screaming at your computer screen will NOT change things.
- When it happens, I only have one bit of advice.
- That is what will happen here when "they" show up. Within just a few months of a big boy company dipping their big toe in Steemit to test the water, the landscape here will be radically and forever changed. You will not recognize it once a few of the big boys start competing for our eyeballs.
Looking at some figures...
According to https://coinmarketcap.com/currencies/steem-dollars/
- Steem Dollars (SBD) Market Cap is $36,636,757 USD
According to https://coinmarketcap.com/currencies/steem/
- Steem Market Cap is $789,768,184 USD
If P&G decided to invest that $200 million from above, they would own a significant stake in the platform.
- They could easily invest enough to have 50% stake in the platform.
- What do you think would happen to the price of Steem and SBD, if someone set out to purchase $200 million worth?
How high do you think it would go?
How fast do you think that would happen?- Now is the time to build your nest egg,
because when it hatches
you just might end up rich!
- Now is the time to build your nest egg,
- What do you think would happen to the price of Steem and SBD, if someone set out to purchase $200 million worth?
What might P&G do on Steemit?
- If they used just a small portion of their advertising budget, they could create a marketing dream come true here on Steemit. They could create a community of users of their products (anyone who washes things or uses toilet paper... Here's a list of their brands). Then pass on coupons, run promotions, reward testimonials, ... They will have a whole team of marketing experts studying how best to do this. Contests would be a good way for them to create buzz about a new product. They could create good will by hiring a team of curators to give significant upvotes to quality content, for no actual out of pocket expense besides paying wages to curators. (Would you be interested in being a full-time, work from home, curator?) By simply having a big enough investment in Steem, they could influence thousands of people.
- You do realize huge corporations like this hire the brightest and the best marketing gurus, right? As smart as these folks are, it doesn't matter how good of a TV ad they create, over half the time they are marketing to people who will never use their product. I'm thinking of their Tampax brand, but that statement is probably true about most brands. I think they could increase their Return on Investment by using the Steemit platform. They could get their marketing campaigns in front of those who would act on them. I would wager a bet that someone has mentioned blockchain and perhaps even Steemit during at least one of their corporate marketing meetings. We are probably already being looked at.
- It's just a matter of time before they dip their big toe to see how the Steemit water is.
- You do realize huge corporations like this hire the brightest and the best marketing gurus, right? As smart as these folks are, it doesn't matter how good of a TV ad they create, over half the time they are marketing to people who will never use their product. I'm thinking of their Tampax brand, but that statement is probably true about most brands. I think they could increase their Return on Investment by using the Steemit platform. They could get their marketing campaigns in front of those who would act on them. I would wager a bet that someone has mentioned blockchain and perhaps even Steemit during at least one of their corporate marketing meetings. We are probably already being looked at.
They would probably put their IT guys to work setting up a method for them to mine data from the blockchain. Someone mentions a new baby, voila, a P&G upvote to get your attention and comment with a link to printable coupons for Pampers. Personalized, of course, with your special code, so the marketers can see when and if you use the coupons.
- You do realize that ANY data on the blockchain is fair game to be mined, right?
- Since a lot of Steemit is open source, they would likely hire a team of programmers to fix a few things and add a few things. That would be great, too.
As @tarazkp points out in this post any large to very large investors will surely be interested in the management of Steemit. Unless they were able to swing a deal to actually buy in to the company, the next best thing would be to gain control of the whales.
- They could easily purchase enough stake to replace the witnesses with their own corporate hacks.
- Then they would be able to "steer" Steemit as they see fit.
- If they saw too many red flags with the platform, they would bide their time and wait for a competitor with fewer red flags to get going.
- Then they would be able to "steer" Steemit as they see fit.
- Since they would be a smart investor, they would realize the worth of this blockchain is not in the oligarchs who run it, but in the minnows... the normal everyday folk. Without them, the oligarchs' investments become worthless, as well as their corporate investment. They would want to ensure the oligarchs realize that and focus on the minnows instead of themselves. They would replace any who were too stubborn to realize that simple fact.
- They would probably not invest until they could be sure the signup process was fixed. Their goal would be to bring millions to the platform. Now... not weeks or months from now...
- They would likely want to know if they could control the trouble makers. You know the ones... the self-appointed sheriffs that run around downvoting and flagging those poor souls who violate their self-created rules. Of course, with a big enough stake, P&G could pretty much control anyone for anything.
- They would probably not invest until they could be sure the signup process was fixed. Their goal would be to bring millions to the platform. Now... not weeks or months from now...
Conclusion
Thanks for taking the time to read this post.
I hope you found it thought provoking.
IMHO, we are in the right place at the right time.
- We are reliving the early days of the Internet with one major difference.
- When the big boys show up to play here, we will all win!
- Now is the time to build your nest egg,
because when it hatches
you just might end up rich!
- Now is the time to build your nest egg,
- When the big boys show up to play here, we will all win!
There's a new rule I just created... 😏
- You must comment your thoughts.
- Had you thought of this (a major player joining Steemit) before?
- Am I way off base? (I'm fairly new here so do not fully understand Steemit...)
I have inch thick rhinoceros skin, so don't worry about hurting my feelings. You won't!
If I'm wrong, please please correct me.
- Am I way off base? (I'm fairly new here so do not fully understand Steemit...)
- How else will a company like P&G use Steemit to their advantage?
Will that be good or bad for us?
- Had you thought of this (a major player joining Steemit) before?
- Are you excited about being an early adopter of the next big thing?
- Do you know of any large corporations looking at us?
- ...???... Comment your reactions to this post...
It's a new rule I just made up. haha
- ...???... Comment your reactions to this post...
- Do you know of any large corporations looking at us?
PS Don't for a minute think I am giving you any type of investment advice.
I'm just encouraging you to keep on keepin' on...
 @WizarDave |
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